Hyderabad:
Police have rescued a 53-year-old jewellery businessman, who was kidnapped in Hyderabad early this month, and arrested ten accused in connection with the case. The accused allegedly kidnapped K. Srinivasa Rao while he was going to his jewellery shop in Ramanthapur. The gang also allegedly sought Rs 15 crore in ransom, and collected Rs 1.3 crore from the man.
The accused posed as police personnel to execute their plan, used a fake number plate and also changed vehicles to mislead the police. Ten persons have been arrested, while two remain on the run.
The incident took place near the Golnaka flyover on October 5 where the gang intercepted Rao, blindfolded him and confined him at an undisclosed location, police said.
"The accused allegedly impersonated police personnel to carry out the kindapping and used vehicles fitted with fake number plates to evade detection. Our teams worked in coordination to identify and apprehend the suspects," Deputy Commissioner of Police, Secunderabad Zone, Rakshitha Krishna Murthy, said.
Investigators suspect that a dispute over a real estate venture in Hemanagar, Boduppal, triggered the crime. Prime accused Dumavath Srikanth allegedly conspired with Gunjapogu Suresh, alias Surya and Suri, and Srinivas Reddy in August to kidnap Rao and extort money from his family.
Cops Nab Accused, Recover Incriminating Materials
Police launched a joint operation along with the Commissioner's Task Force, Secunderabad Zone, leading to the arrests. They seized Rs 1.07 crore in cash, 118.26 grams of gold ornaments, five vehicles and nine mobile phones.
The recovered cash forms part of the amount allegedly extorted, while efforts are under way to trace the remaining money.
Police have also revealed that the accused have criminal antecedents. Srikanth faces 16 cheating cases linked to alleged fraudulent offers involving flat construction. On the other hand, Suresh has been linked to property offences, theft, robbery, extortion and kidnapping-for-ransom cases.
Another accused, Bandari Samson, alias Lucky, has five previous property-related cases, police said.
"Two accused, including Srinivas Reddy, are still on the run. We are making efforts to trace them and recover the remaining amount," the DCP added.
The arrested accused are being produced before a court for judicial remand.